Having a motorbike provides freedom on the road, but are you really safe when the unexpected happens? Most policyholders miss crucial details in their policy, which can save them money and avoid a claim refusal. 

Whether renewing your policy or buying your first one, these bike insurance secrets will give you a real edge. From hidden benefits to little-known exclusions, understanding your policy is more than a smart move. 

Discover what insurers won’t always tell you and make informed decisions about your two-wheeler insurance.

Bike insurance in India is an essential financial safety net for bike owners. It provides coverage against a number of potential events. There are three possible bike insurance policies, and they include:

Third-Party Insurance

Under the Motor Vehicles Act of 1988, third-party insurance coverage is required by law. It covers the legal liability arising from injury or damage to a third party caused by the use of the insured bike.

Own Damage Insurance

This is stand-alone motorcycle insurance coverage. An own damage insurance policy will provide coverage for damage to your insured motorcycle. It can be due to an accident, theft, fire, or natural calamities.

Comprehensive Insurance

A comprehensive bike insurance policy covers third-party and own damage coverage. Thus, it offers peace of mind against loss or damage resulting from theft, accidents, natural disasters, and more.

You can lower your bike insurance premium through some effective tactics without sacrificing any level of coverage. Here are some methods you can use to lower your bike insurance premiums:

1. Compare Insurance Products Online

Research and compare different insurances online to determine which insurance has the best coverage at the cheapest price possible. By comparing quotes, you can explore options and plans that are unique in benefits and offer competitive premiums that suit your needs.

2. Security Measures

Adding security devices to your bike, like anti-theft alarms, especially where authorities approve, can help you save money. Insurance providers represent less theft risk with lower premiums, ultimately saving you money and keeping your bike looked after.

3. Renew Your Policy On Time

Before your policy expires, always renew it to retain your no-claims bonus in bike insurance and avoid surcharges. Renewing your policy after it expires may result in losing your discount, and you may pay higher premiums in the future.

4. Do Not Make Small Claims

Avoid making claims for small repairs or damage to your motorcycle. If you do not submit small claims, you can save your No Claim Bonus (NCB) and, over time, protect yourself from premium increases and see discounts of up to 50%.

5. Keep a Clean Driving Record

Good riding habits, a clean driving record, and a claim-free history will likely help secure lower premiums. Many insurers provide discounts for good riders as they're perceived as lower-risk policyholders.

6. Get a Basic or Multi-year Policy

If your needs are simple, a basic third-party or multi-year policy may offer cheaper options. Multi-year policies can also guarantee good rates and guard against annual price increases on premiums.

Many bike owners are unaware that their insurance is more than just coverage for accidents and theft. The two-wheeler insurance policies come with hidden benefits and add-ons that increase your coverage and experience, such as:

Zero Depreciation Cover

The zero depreciation cover is an add-on that ensures you will be compensated for the full replacement cost of your bike parts without any depreciation deducted when you make a claim.

Return to Invoice (RTI) Cover

Return To Invoice Cover is another add-on where, if your bike is stolen or written off, the insurance company will reimburse your original invoice price for your bike, including any registration and road taxes.

24/7 Roadside Assistance

Roadside assistance is another add-on that can provide immediate assistance. The options depend on your insurance policy but can include breakdowns, flat tyres, low battery, or emergency fuel if available.

No Claim Bonus (NCB) Protection

NCB protection lets you keep your accumulated bonus after making a claim. You will continue to get premium discounts for having ridden safely, and you will make your policy more economical in the long run.

Personal Accident and Pillion Cover

Personal accident cover pays out cash for your injury or death from an accident. Some policies offer this cover to pillion riders (if applicable) and generally give you adequate safety. 

Consumables Cover

This cover pays for consumables, like nuts, bolts, engine oil, and lubricants, required when repairing your vehicle. These costs are often not covered in a standard policy. Thus, consumables cover diminishes your repair cost.